Correlation Between Walker Dunlop and By Health
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By analyzing existing cross correlation between Walker Dunlop and By health, you can compare the effects of market volatilities on Walker Dunlop and By Health and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Walker Dunlop with a short position of By Health. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and By Health.
Diversification Opportunities for Walker Dunlop and By Health
0.33 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Walker and 300146 is 0.33. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and By health in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on By health and Walker Dunlop is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Walker Dunlop are associated (or correlated) with By Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of By health has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and By Health go up and down completely randomly.
Pair Corralation between Walker Dunlop and By Health
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 0.75 times more return on investment than By Health. However, Walker Dunlop is 1.34 times less risky than By Health. It trades about 0.05 of its potential returns per unit of risk. By health is currently generating about -0.03 per unit of risk. If you would invest 10,870 in Walker Dunlop on September 1, 2024 and sell it today you would earn a total of 148.00 from holding Walker Dunlop or generate 1.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Walker Dunlop vs. By health
Performance |
| Timeline |
| Walker Dunlop |
| By health |
Walker Dunlop and By Health Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and By Health
The main advantage of trading using opposite Walker Dunlop and By Health positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, By Health can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in By Health will offset losses from the drop in By Health's long position.| Walker Dunlop vs. Mr Cooper Group | Walker Dunlop vs. Velocity Financial Llc | Walker Dunlop vs. Security National Financial | Walker Dunlop vs. Encore Capital Group |
| By Health vs. Niutech Environment Technology | By Health vs. Anhui Transport Consulting | By Health vs. Jiujiang Shanshui Technology | By Health vs. Western Superconducting Tech |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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